LnLOAN

LTD

LA

Dif

Sys

Dif

Sys

Dif

Sys

L1.

0.5356***

0.6639***

0.4269***

0.7257***

0.3937***

0.7393***

(0.0923)

(0.0398)

(0.1171)

(0.0492)

(0.0832)

(0.0378)

CAR

−0.0058

−0.0051

−0.4097*

−0.2951

−1.0705***

−0.8270***

(0.0038)

(0.0036)

(0.2435)

(0.2063)

(0.1887)

(0.1633)

SIZE

0.3486***

0.3302***

0.0219

0.8127

−4.4679***

−0.7253

(0.0826)

(0.0402)

(1.6879)

(0.6109)

(1.7337)

(0.4877)

ROA

0.0276

0.0648***

1.2633

1.4527

−0.0249

2.0994

(0.0274)

(0.0236)

(1.7490)

(1.6982)

(1.6330)

(1.3791)

LR

0.0001

−0.0010*

−0.0525

−0.0512

−0.0802*

−0.0859***

(0.0007)

(0.0005)

(0.0496)

(0.0342)

(0.0429)

(0.0254)

CTI

0.0037**

0.0074***

0.0047

0.2030**

−0.0552

0.1010

(0.0015)

(0.0012)

(0.0676)

(0.1011)

(0.0440)

(0.0855)

NIRR

−0.0004

−0.0011**

−0.0342

−0.0686**

−0.0690*

−0.1034***

(0.0009)

(0.0005)

(0.0514)

(0.0271)

(0.0367)

(0.0205)

EA

1.4166*

1.5539***

115.6716***

104.9440***

179.4212***

121.9256***

(0.7871)

(0.5917)

(37.1835)

(32.5081)

(38.1866)

(29.4358)

LnEPU2

−0.0109

−0.0163**

−2.4804***

−2.6818***

−1.5855**

−1.3124**

(0.0079)

(0.0081)

(0.7533)

(0.7302)

(0.6246)

(0.5695)

GGDP

−0.0026

−0.0305***

−1.5237***

−3.1958***

−1.3225**

−3.1851***

(0.0079)

(0.0096)

(0.5646)

(0.8410)

(0.5634)

(0.6986)

CPI

−0.0115**

0.0155***

0.3897

1.4321***

0.1436

1.3948***

(0.0057)

(0.0059)

(0.4281)

(0.4517)

(0.4646)

(0.3631)

M2

−0.0013

0.0152***

0.3834

0.7285***

0.3130

0.8544***

(0.0033)

(0.0029)

(0.2400)

(0.2027)

(0.2717)

(0.1649)

_cons

1.5722***

−0.2729

51.9846*

20.1476

122.3255***

41.6753***

(0.4560)

(0.1772)

(31.4128)

(12.6030)

(30.7250)

(12.0500)

AR(2)

0.5771

0.3017

0.0474

0.0394

0.6003

0.3238

Sargan

0.0936

0.4526

0.2237

0.3892

0.0443

0.4164